Business confidence in South Africa has taken a knock as companies now grapple with renewed pressure from the war in the Middle East. The RMB/BER business confidence index fell by 8 points to 39 in the second quarter of the year.
The decline reversed gains recorded in the two previous quarters, placing sentiment just below the long-term average of 40.
The survey notes that while the recovery in business sentiment has lost momentum, confidence remains above the recent low of 27 recorded in the second quarter of 2023.
